“Chris Dodd” on The Daily Caller

Three months to go before the midterm elections and the conservative airwaves abound with optimism.  If it’s “all about the economy, stupid,” that explains why the Democrats are circling the wagons.  Still, I’m not nearly as sanguine as the conservative talk-show hosts that a critical mass of American voters will connect the dots, and therefore make no predictions about the outcome.  I do predict, however, even as the campaign speeches become increasingly strident, that you won’t hear the following from America’s Liberal elites anytime soon: (more)

Democratic leaders are pushing departing lawmakers to turn over their war chests to help the party retain control of Congress, but in some cases are getting a stiff-arm. (more)

Does anyone think there might be something suspicious behind the timing of President Obama’s quick family vacation to Maine this past weekend? (more)

WASHINGTON (AP) – A sweeping overhaul of the nation’s financial regulations stands on the verge of reaching President Barack Obama’s desk after a year of partisan struggles and delicate cross-party courtships that promised more and delivered less. (more)

The Dodd-Frank financial regulatory bill, ostensibly aimed at reforming Wall Street and preventing a future financial crisis, will impose racial and gender quotas on financial institutions if passed, according to economist Diana Furchtgott-Roth. (more)

For the last few weeks a House-Senate conference committee has been at work trying to craft a final version of a financial regulation package.  One amendment offered within that committee encapsulated the entire debate on regulatory reform, pitting institutionalized bailouts against depoliticized taxpayer protections. (more)

“Re·cid·i·vism [ri-ˈsi-də-ˌvi-zəm] noun: a tendency to relapse into a previous condition or mode of behavior; especially: relapse into criminal behavior.”—Merriam-Webster’s Dictionary (more)

Senate Finance Committee leaders Chuck Grassley (R-Iowa) and Max Baucus (D-Mont.) are the hardest working members of Congress, according to the people who work with them on Capitol Hill — their fellow lawmakers, aides and other officials. (more)

Senate conferees named: The Senate on Tuesday named 12 conferees to reconcile legislative differences between the upper and lower chambers’ financial reform bills. House Financial Services Committee Chairman Barney Frank, Massachusetts Democrat, will serve as chairman of the conference negotiations, which Democrats aim to complete before the July 4 recess. House members are expected to be named next week. The seven Senate Democrats are Banking Committee Chairman Chris Dodd of Connecticut; Agriculture Committee Chairwoman Blanche Lincoln of Arkansas and Sens. Tim Johnson of South Dakota, Jack Reed of Rhode Island, Charles Schumer of New York, Patrick Leahy of Vermont and Tom Harkin of Iowa. The Republicans are Sens. Richard Shelby of Alabama, Bob Corker of Tennessee, Mike Crapo of Idaho, Judd Gregg of New Hampshire and Saxby Chambliss of Georgia. (more)

Did you know that 60 percent of people lie at least once during a 10 minute conversation? And that during that conversation they tell an average of two to three lies, especially when they are trying to appear likable and competent? (more)

Richard Blumenthal’s sudden troubles in Connecticut have increased the possibility that Republicans will retake the Senate this fall. (more)

Connecticut Attorney General Richard Blumenthal on Tuesday sounded a defiant tone even as the candidate for the U.S. Senate acknowledged he had misrepresented his service in Vietnam, saying his false statements were “absolutely unintentional.” (more)

Financial reform next steps: There have been reports that Democratic leaders are looking to move the financial reform bill, possibly with a vote to end debate as early as Monday, and a vote on the bill itself Tuesday. Late Thursday, it appeared that votes would continue through the night. Amendments will continue to be filed Friday, but no votes are expected. More Senate votes are scheduled for Monday and, “We’ll be in until at least the early part of next week,” according to Banking Committee Chairman Chris Dodd, Connecticut Democrat. Reconciliation of any Senate bill with the December House bill, may progress very differently than it did for health-care bill, where the House simply approved the bill that the Senate passed. In the case of financial reform, the plan may be for a formal “conference,” perhaps televised, with House and Senate leaders and administration officials discussing, debating and making changes. Both the House and Senate must vote again before it can be sent to President Obama. (more)

In a party-line, 56-to-43 vote Tuesday, Senate Democrats blocked any reform of Fannie Mae and Freddie Mac, the corrupt, government-backed mortgage giants that even administration officials admit were at the “core” of “what went wrong” in the financial crisis. (more)

Anti-bank rhetoric may be all the rage, but there are 19 billion reasons why taxpayers should redirect their anger toward Fannie Mae and Freddie Mac, the lawmakers who keep bailing them out and the news media that refuse to report it. (more)

U.S. markets up: The markets closed up on Monday, based largely on positive developments in Europe. The Dow was up almost 4 percent and the S&P 500 up 4.5  percent and the Nasdaq closed up almost 5 percent. (more)

The glitch: Nasdaq Chief Executive Robert Greifeld has said several factors contributed to last week’s near-1,000-point drop in the Dow: “I think it was a confluence of factors led by the marcro-economic environment, the futures market and then the listed market for those stocks.” Regulators originally thought a trading glitch may have caused the market to freefall, but Greifeld believes that was only one aspect. The fear that financial unrest in Greece could be spreading to other European countries, and heightened activity in the futures market that spilled into the equity market contributed to the issue. On Thursday, 27 U.S. stocks dropped more than 90 percent as U.S. equities tumbled, before recovering by the close. More than 285 securities rose or fell more than 60 percent during the stock-market’s plunge and will have these trades canceled. On Sunday, Nasdaq added another 12 stocks to the list of trades it was canceling following Thursday’s sudden market plunge. (more)

Sen. Chris Dodd (D-Conn.) will cosponsor Sen. Bernie Sanders' (I-Vt.) amendment to audit the Fed, he said on the Senate floor Thursday afternoon, though with modifications, the details of which are crucial to the weight of the audit. (more)

The first amendment: An amendment offered by Senate Banking Committee Chairman Chris Dodd, Connecticut Democrat, and Ranking Member Richard Shelby, Alabama Republican, to the Restoring American Financial Stability Act (S. 3217) was adopted Wednesday by a vote of 93 to 5. According to Congressional Quarterly, the amendment drops the proposed $50 billion resolution fund that would have covered the costs of a major financial collapse, and empowers the Federal Deposit Insurance Corporation (FDIC) to liquidate large firms with a credit line from Treasury. The amendment requires congressional approval before the government could guarantee the debt of a financial firm. (more)

An unlikely alliance of liberals and conservatives led by socialist Sen. Bernie Sanders and firebrand conservative Sen. Jim DeMint is gaining ground in an effort to audit the Federal Reserve, despite objections by the White House and bank lobbyists. (more)